{"id":16865,"date":"2025-03-09T02:31:33","date_gmt":"2025-03-09T02:31:33","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=16865"},"modified":"2025-03-09T02:31:33","modified_gmt":"2025-03-09T02:31:33","slug":"cardano-price-could-be-on-its-way-to-2-heres-how","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=16865","title":{"rendered":"Cardano Price Could Be On Its Way To $2 \u2014 Here\u2019s How"},"content":{"rendered":"
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The Cardano price was one of the major beneficiaries of the positive momentum injected into the market following US President Donald Trump\u2019s announcement of a strategic crypto reserve<\/a>. On Sunday, March 2, the altcoin surged by almost 60% in a couple of hours after the disclosure.<\/p>\n

While the Cardano price has maintained a good percentage of the early-week gains, it has experienced a mild pullback over the past week. Interestingly, the current price setup suggests that the cryptocurrency may soon resume its upward trajectory and travel to new cycle highs.<\/p>\n

What\u2019s Next For ADA Price In This Cycle?<\/strong><\/h2>\n

In a March 7 video posted on the X platform, popular crypto analyst Ali Martinez revealed<\/a> how ADA could enter a fresh bull rally to a new high in the current cycle. According to the crypto pundit, the ninth-largest cryptocurrency could still make a play for the $2 mark.<\/p>\n

The rationale behind this bullish prediction is the formation of a right-angled, descending broadening wedge on the daily timeframe of the ADA price chart. A broadening formation<\/a> is a technical analysis pattern typically marked by two diverging trendlines; an ascending upper trendline (connecting a series of higher highs) and a descending lower trendline (connecting lower lows).<\/p>\n

\"Cardano<\/p>\n

However, as shown in the chart above, the broadening wedge pattern in the ADA daily chart specifically has a horizontal upper trendline (right-angled) and a falling lower trendline. In any case, this chart pattern is usually associated with a period of increasing price volatility (or significant price action).<\/p>\n

While the broadening patterns are mostly bearish chart formations, they sometimes just signal rising volatility without a clear indication of the next price direction. Nonetheless, the current formation, which has persisted since December 2024, appears to be bullish for the Cardano price.<\/p>\n

Martinez said the altcoin seems ready for a significant price move to the upside. However, the analyst noted that the ADA price would need to overcome the major resistance level (around $1.14) at the horizontal trendline before a bullish breakout can be confirmed.<\/p>\n

If Cardano<\/a> successfully breaches and closes above this resistance level, its price could more than double over the next few weeks. Martinez set the price target for ADA at $2, representing an over 140% surge from the current price point.<\/p>\n

Cardano Price At A Glance<\/strong><\/h2>\n

After surpassing $1.1 on the back of the strategic crypto reserve news earlier, the price of ADA<\/a> has returned below $1. As of this writing, the Cardano price stands at around $0.82, reflecting an over 4% decline in the past 24 hours.<\/p>\n

\"Cardano<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The Cardano price was one of the major beneficiaries of the positive momentum injected into the market following US President Donald Trump\u2019s announcement of a strategic crypto reserve. On Sunday, March 2, the altcoin surged by almost 60% in a couple of hours after the disclosure. While the Cardano price has maintained a good percentage […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-16865","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/16865","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=16865"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/16865\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=16865"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=16865"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=16865"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}